The status of a planning folder communicates where it currently stands in the development process. You can set the status of a planning folder to values you define yourself.
The status of a planning folder can help project members make sense of what can be a complex development process. For example, consider these scenarios:
Just when you've prepared a planning folder and are ready to kick off a sprint, the product owner gets word of a more pressing set of features and asks you to postpone this work and get right to the newly revealed priority. You're worried that your project's momentum might lead project members to keep picking up tasks in this planning folder instead of switching to the new work.
Create a status called "On hold," and specify it as an "Inactive" status. When you give the planning folder your new "On hold" status, project members whose view shows only active folders won't see this one in their planning folder list.
Your sprint has just concluded. You don't want any further development work to happen in this planning folder, but you do want team members and others to be able to peruse it for insight into what went right and what went wrong.
Create a status called "Retrospective," and specify it as an "Active" status. When you assign this status to your planning folder, participants will be able to confirm that the sprint in question is finished and their comments are invited.